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Evaluate the actual performance of enterprises based on a comprehensive performance measurement system. Set realistic yet aspirational targets to reflect main objectives. Utilize the Balanced Scorecard with four perspectives for long-term mission focus and strategic goal evaluation. Implement a communication mechanism for front-line workers to contribute to and understand enterprise success.
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Based actual performance of enterprises • Fall term: performance measurement system and the performance targets that you set • Spring term: achievements given the targets set for your enterprises in the fall.
Performance targets should be:comprehensive -- reflect your main objectives in both aspects of your enterprise aspirational and realistic
Aspirational means that they should stretch you. Hence, • the best that PaCE teams have achieved in the past might be considered a B performance; • the best that similar (i.e., same line of business, target markets, or missions) enterprises achieve might be an A standard;
The Balanced Scorecard • focuses on four perspectives: • Financial, • Customer, • Internal Business Process • Learning and Growth
Help organizations focus on long-term mission • Conceived with Information Age business dynamics in mind. • Uses a range of "leading and lagging" indicators to evaluate whether a business is moving toward its strategic goals.
A communication mechanism • Lets front-line workers see how their efforts contribute to the enterprise's success. • Lets front-line workers explain to other participants in the enterprise the day-to-day realities that affect their progress.